Equinor and its partners in the Troll gas field have decided to invest more than $400 million in a new subsea development to boost gas production from the huge Norwegian gas field in the North Sea. Equinor and its partners Petoro, Shell, TotalEnergies, and ConocoPhillips have decided to invest just over 4 billion Norwegian crowns, […]
Morgan Stanley and Goldman Sachs cut their forecast for oil prices towards the end of the year and 2027 following developments in the peace negotiations between the United States and Iran earlier this week. Morgan Stanley now sees Brent crude averaging $80 per barrel in the last quarter of 2026, and $90 per barrel in the […]
Oil prices plunged in early Monday trading in Asia after the U.S. and Iran announced a deal to reopen the Strait of Hormuz more than 100 days after its closure. At the time of writing, Brent crude had dropped 3.95% to trade at $83.88 per barrel, while WTI had fallen 4.62% to $80.96 per barrel. Oil prices, which peaked […]
The US government just rolled out the welcome mat for oil companies eyeing Venezuela’s vast crude reserves, but the mat comes with a lot of fine print. Through a series of amended general licenses issued by the Office of Foreign Assets Control (OFAC), the Trump administration has fundamentally reshaped the investment landscape for Venezuela’s energy […]
Oil prices jumped more than US$4 (RM16.28) on Monday, with investors spooked by fresh Israeli strikes on Iran as well as renewed attacks on Lebanon a day earlier. Brent crude futures rose US$4.42 or 4.47% to US$97.15 a barrel as of 0609 GMT, while US crude futures were up US$4.07 or 4.50% at US$94.61 per […]
South Korea’s foreign exchange reserves decreased by $880 million in one month due to market stabilization measures, including a foreign exchange swap with the National Pension Service. The decline appears to reflect a slight reduction in the overall reserve level as the foreign exchange authorities injected funds to ease exchange-rate volatility. According to data released […]
President Donald Trump plans to allocate a support package of $700 million for coal power generation, citing an unnamed White House official ahead of a formal announcement by the U.S. President. The plan is to invoke the 1950 Defense Production Act, which grants the president of the country powers to provide financial support to industries […]
Companies have pledged to invest €93 billion ($108 billion) in France, with half destined for a SoftBank-backed data centre project, as President Emmanuel Macron seeks to leverage nuclear capacity to make the country a global AI leader. Macron said the 71 projects being unveiled at this year’s Choose France summit marked a record year for […]
Oil prices pushed higher Monday, with Brent crude topping $94 per barrel and WTI climbing above $90, after President Donald Trump sent a proposed Iran peace agreement back for revisions, raising fresh questions about how quickly the Strait of Hormuz can be fully reopened to global energy shipments. Brent crude was trading at $94.23 per barrel while […]
GOLD held a gain after reports that the US and Iran had reached a tentative deal to extend a ceasefire and work toward an agreement to end the Middle East war eased inflation concerns. Bullion traded around US$4,495 an ounce, after closing up 1 per cent on Thursday (May 28) despite touching a two-month low […]